Singapore Sovereign Wealth Fund Acquires Building in Wall Street

Singapore Sovereign Wealth Fund Acquires Building in Wall Street

Singapore’s sovereign wealth fund, GIC has bought a 95% stake in Wall Street which serves as the US headquarters of Deutsche Bank AG. The deal is estimated at $1.04 billion. GIC and Paramount Group, a New York based real estate investment trust will manage the property.

“Singapore’s sovereign wealth fund, GIC has bought a 95% stake in Wall Street which serves as the US headquarters of Deutsche Bank AG. The deal is estimated at $1.04 billion.”

~ Bloomberg

The property is 100% leased to Deutsche Bank and it will expire in 2022. In connection with the deal, the joint venture has completed a US$575 million financing of the tower.

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